Chapter

Globalization and Convergence

Steve Dowrick and J. Bradford Delong

in Globalization in Historical Perspective

Published by University of Chicago Press

Published in print August 2003 | ISBN: 9780226065984
Published online February 2013 | e-ISBN: 9780226065991 | DOI: http://dx.doi.org/10.7208/chicago/9780226065991.003.0005
Globalization and Convergence

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This chapter discusses geographic patterns and correlations between measures of globalization and the power of forces making for convergence. It presents four tentative theses about the extent of convergence and the relationship of convergence to globalization: (1) The first era of globalization—the knitting together of the world economy into a single unit in which staples could be profitably traded across oceans in the years before World War I—was essential in spreading the possibility of convergence beyond the narrow North Atlantic. (2) Outside the charmed circle made up of the western European economies plus the temperate economies of European settlement, the first era of globalization in 1870–1914 did not bring convergence. (3) During the interwar era of globalization retreat, there were signs that the world's convergence club was significantly expanding. (4) The post-World War II period has brought an expansion in the size but also a shift in the location of the world's convergence club. A commentary is also included at the end of the chapter.

Keywords: geographic patterns; globalization; world economy; convergence

Chapter.  14248 words.  Illustrated.

Subjects: Economic History

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